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Jun 27, 2012
06/12
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city ever to file for bankruptcy. officials voted late tuesday to adopt a new budget plan to allow the city to pay for day-to-day operations. this seen as the last step before filing for chapter 9 protection possibly today. stockton has about 300,000 residents and is said to be $700 million in debt. the city's been hurt by high retiree costs, big spending on a downtown revitalization project and falling property tax revenues resulting from the u.s. housing slump. >>> and with just about four months until election day, president obama and mitt romney are running neck and neck. the latest nbc/wall street journal poll has the president leading his republican lively 47% to 43% nationally. obama has a bigger margin in key swing states like pennsylvania and colorado. still, voters' sentiment issing intive overall. nearly two-thirds say the u.s. is on the wrong track. >>> ahead of tomorrow's expected supreme court ruling on president obama's health care overhaul, 37% are in favor of the justices striking it down and 41% say
city ever to file for bankruptcy. officials voted late tuesday to adopt a new budget plan to allow the city to pay for day-to-day operations. this seen as the last step before filing for chapter 9 protection possibly today. stockton has about 300,000 residents and is said to be $700 million in debt. the city's been hurt by high retiree costs, big spending on a downtown revitalization project and falling property tax revenues resulting from the u.s. housing slump. >>> and with just...
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Apr 16, 2012
04/12
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joining us now to talk more about city oig a about citi and other issues is brennan hawkins. let's start with the city oi expectations. >> we think citi can do better than the street expectations. it's going to be an interesting quarter for capital markets. we saw jpmorgan on friday report $5 billion in revenue out of the thick line. we had a tremendous deal calendar in 1 q. that led to a lot of strong revenue opportunities in fixed income currency and commodities. citi has a strong franchise there and we think that should bring solid results. >> and despite the fact that we saw good results from jpmorgan and as well as wells, we logged the week. if citi beats expectations today or at least performs in line, do you think this could boost the markets? or do you think that negative sentiment from china and what we're worried about in europe still will doctoring drag? >> what i'd say about jpmorgan and wells and how that played out on friday, it seems as though investors were worried about a regulatory requirement forcing second lean mortgages to get reclassified even about if t
joining us now to talk more about city oig a about citi and other issues is brennan hawkins. let's start with the city oi expectations. >> we think citi can do better than the street expectations. it's going to be an interesting quarter for capital markets. we saw jpmorgan on friday report $5 billion in revenue out of the thick line. we had a tremendous deal calendar in 1 q. that led to a lot of strong revenue opportunities in fixed income currency and commodities. citi has a strong...
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Dec 26, 2012
12/12
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citi price rewind. start saving at citi.com/pricerewind. you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. >>> welcome back to "worldwide exchange." if you're traveling around london today, you better take the bus or hail a cab. for the third straight year, hundreds of london underground workers and drivers have gone on a 24-hour strike on boxing day. the first day of post-christmas retail sales. the union has a long-running dispute with tube management over bank holiday pay. >>> and here in the u.s., support strike could be brewing. federal mediators have called for a meeting of east and gulf coast dock workers and shippers as they try to avoid possible strike next week. talks broke down december 18. and the union's contract extension expires monday. the union represent more than 14,000 workers at more than a dozen ports from boston to houston. the key sticking point -- container royalties or payments to unio
citi price rewind. start saving at citi.com/pricerewind. you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. >>> welcome back to "worldwide exchange." if you're traveling around london today, you better take the bus or hail a cab. for the third straight year, hundreds of london underground workers and drivers have gone on a 24-hour strike on...
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Oct 31, 2012
10/12
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president obama will tour damage in atlantic city today. new york's subway system is flooded and will remain shut indefinitely. new jersey transit is also suspended. amtrak will resume limited regional service, but not to manhattan because of flooded tunnels. jfk and newark airports will reopen with limited service. airlines will resume service at other eastern airports. a.i.r. worldwide is putting the estimated insured losses at $7 billion to $15 billion. the u.s. financial markets, as we mentioned, will reopen today. the u.s. stock exchange says they didn't suffer any damage. goldman sachs will open its headquarters in lower manhattan, though it is still running on generator power. b of a will keep their offices closed, and citigroup says its office in lower manhattan sustained extensive flooding. joining us for a firsthand look at the damage from new york is scott cohn. i know it's still dark around you, but what kind of damage are we seeing? >> well, kelly, a lot of what you just outlined s the reason that this is -- that this city is b
president obama will tour damage in atlantic city today. new york's subway system is flooded and will remain shut indefinitely. new jersey transit is also suspended. amtrak will resume limited regional service, but not to manhattan because of flooded tunnels. jfk and newark airports will reopen with limited service. airlines will resume service at other eastern airports. a.i.r. worldwide is putting the estimated insured losses at $7 billion to $15 billion. the u.s. financial markets, as we...
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Jul 23, 2012
07/12
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citi is the best of the bunch. wells fargo and jpmorgan still have enormous issues things like second lens. imagine if a city out in california takes over a loan usi using imminent domain. do we write it off? >> that have they accounted for that? >> no. wells fargo has got over $150 billion worth of second lens that they barely reserve against. they take the position they are being paid. if the mortgage is under water 10%, 20%. >> say for a regional or small bank is banking profitable any more? >> look at the fdic data. it's not great. equity returns is half of what they were during the boom. that's not normal. not normal for a bank to make 20% return on equity opinion we were pretending they were tech stocks. your normal bank equity used to be bond. people kept it for the cash flow. >> bottom line who do you buy? >> like anything from u.s. bank on down dpourp homework. quality in terms of risk adjusted returns is in the smaller and medium size banks. >> christopher whalen, thank you so much for stopping by. >> my
citi is the best of the bunch. wells fargo and jpmorgan still have enormous issues things like second lens. imagine if a city out in california takes over a loan usi using imminent domain. do we write it off? >> that have they accounted for that? >> no. wells fargo has got over $150 billion worth of second lens that they barely reserve against. they take the position they are being paid. if the mortgage is under water 10%, 20%. >> say for a regional or small bank is banking...
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Oct 17, 2012
10/12
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. >> shake-up at citi. the company is still being mum about the specific details around his departure. >> and a surprise rate cut from the bank of thailand is hitting home in yet another emerging economy. >>>er you're watching "worldwide exchange," bringing you business news from around the globe. >> good morning to you. so much to get to in today's program. kelly is a little bleary eyed this morning. >> it's because i watched the debate this morning. >> you just happened to wake up at the exact moment that debate started? >> i thought i'll just watch it for two or three minutes to get an idea of what's g 90 minutes later. >> and your initial thoughts? >> i saw the first one because i was in the u.s. for it. it did come off as dour. this one was livelier. but i don't know whether there was necessarily -- the narrative is that president obama did better than last time around. whether it was as much of a game changer i think is still up for debate. in any case, president obama and mitt romney have one more de
. >> shake-up at citi. the company is still being mum about the specific details around his departure. >> and a surprise rate cut from the bank of thailand is hitting home in yet another emerging economy. >>>er you're watching "worldwide exchange," bringing you business news from around the globe. >> good morning to you. so much to get to in today's program. kelly is a little bleary eyed this morning. >> it's because i watched the debate this morning....
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Jul 16, 2012
07/12
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citi kicks off a big week for u.s. earnings, posting second-quarter results before the opening bell. >>> markets in china rattled by a raft of profit warnings amid slowing economic growth. >>> and the u.s. justice department builds a criminal case against several banks implicated in the libor scandal. >>> chinese markets a little weaker today. we've just had fdi numbers out as well. first-half fdi in china, according to the vice commerce ministry down 3% in the first half to $59.1 billion. they say the fdi, though, is likely to be flat on the year when you compare it with 2011. but investors, i think private-sector investors, kelly, are still very cautious in china until they see the new, the new political regime in place. >> yeah, and the end of this current kind of period of weakness as our guest earlier was talking about. >> you're nodding your head. do you think there's a big shift going on here and people will be unwilling to sort of invest a lot of money until they know what's going to happen? >> you guys do this
citi kicks off a big week for u.s. earnings, posting second-quarter results before the opening bell. >>> markets in china rattled by a raft of profit warnings amid slowing economic growth. >>> and the u.s. justice department builds a criminal case against several banks implicated in the libor scandal. >>> chinese markets a little weaker today. we've just had fdi numbers out as well. first-half fdi in china, according to the vice commerce ministry down 3% in the first...
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Oct 15, 2012
10/12
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what levers does city frup have to pull on the fee side? >> citigroup has many sources of fee income and clearly the regulatory burdens will be increasing. however, let me point out that debit cards which was supposed to be a major hit to revenues, it looks like the major banks have rebuilt fairly nicely and starting to grow again. so it all comes down to the banks are fairly resilient fee income growth. and they should be able to rebound. >> and you can put citigroup in context for us across the sector, both with competitors like b of a and then the goldmans and morgans. how do you rang them, who do you like best in this environment? >> we like j pchp more fan anga citigroup the best. we have sell on bank of america because we're worried about the cost of mortgage repurchases. they are doing much worse than any other u.s. bank in that aspect. and we think that investors have been over lookilooking that and have a hold recommendation on wel wells fargo. >> eric, thanks very much for your time. and citigroup earnings will be out in just a li
what levers does city frup have to pull on the fee side? >> citigroup has many sources of fee income and clearly the regulatory burdens will be increasing. however, let me point out that debit cards which was supposed to be a major hit to revenues, it looks like the major banks have rebuilt fairly nicely and starting to grow again. so it all comes down to the banks are fairly resilient fee income growth. and they should be able to rebound. >> and you can put citigroup in context for...
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Aug 9, 2012
08/12
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beijing's recent investigation into 16 provinces and cities shows that most cities have been diligently carrying out property restrictions so that helped to calm speculation. the hang seng climbed 1%. stocks also cashed in after sj and holdings reported a 28% rise in first half net profit. the nikkei gained 1.1% on the day and now sits up 5% on the week. oil and coal companies as well as steel makers left the gate. over in seoul, exporters and manufacturers helped to lift the kospi higher on easing hopes from the bok. we'll hear more about that later. the aussie market was actually the market lager today, down marginally on profit taking. india's sensex down by abo about .3%. back to you. >>> thank you. well, we've heard about possibilities of a grek sit or a spec sit. we're highlighting the increased possibility of the u.k. leaving the european union. tony blair is also reportedly concerned about this possibility. for more head to our website. the story is there. you can weigh in. we want to know with all the brixit, grexit's flying around, let us know which one you think will happen.
beijing's recent investigation into 16 provinces and cities shows that most cities have been diligently carrying out property restrictions so that helped to calm speculation. the hang seng climbed 1%. stocks also cashed in after sj and holdings reported a 28% rise in first half net profit. the nikkei gained 1.1% on the day and now sits up 5% on the week. oil and coal companies as well as steel makers left the gate. over in seoul, exporters and manufacturers helped to lift the kospi higher on...
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Oct 16, 2012
10/12
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also in the lower tiered cities. in the provinces. according to mckenzie, the latest research, china will build 221 new cities by the year 2025. >> well, nothing can go wrong with that. china must know it needs exactly 221 cities. >> well, you look at the mckenzie research, several pieces of research based on the proprietary data, 221 new cities, it could be growing from mid size villages to mid size towns, mid size to bigger towns. but in total, china will add something like 300 million more urban ite you a urbanites by 2025. >> so investors should stay wrn t within the longer term. >> all right more to come from andrew. >>> resources minister says the boom is over. >> and we'll get the latest read on uk inflation. the rate is expected to fall to its lowest level in three years. >> meanwhile new car sales are sle sliding in europe. >> and we'll be heading out to new york for a preview of johnson & johnson earnings. what one analyst says about the potential impact of the election on the health care sector. >>> and sh
also in the lower tiered cities. in the provinces. according to mckenzie, the latest research, china will build 221 new cities by the year 2025. >> well, nothing can go wrong with that. china must know it needs exactly 221 cities. >> well, you look at the mckenzie research, several pieces of research based on the proprietary data, 221 new cities, it could be growing from mid size villages to mid size towns, mid size to bigger towns. but in total, china will add something like 300...
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Nov 1, 2012
11/12
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three people to a vehicle coming into the city this morning. and then you have to try and get down here if you work in the financial district. this city is still struggling mightily to recover. >> and we're seeing the effects felt globally as airports struggle to reopen. it sounds like laguardia will reopen at least with limited service this morning. but generally speaking how hard is to get into the city at this point? >> it's interesting that they're getting laguardia back and running. the arpirport is right on the water and it's flooded up to the gates. jfk, the major international airport as well as newark liberty, they're also reopening, but they have to get planes back because there were so many cancellations ahead of the storm. and the fact that they have the armies coming back is important, but again, it's a long climb. >> scott, thanks for all your reports this week. really appreciate it. take a look at u.s. lumber futures. they hit 19 month highs yesterday. by the way, this makes lumber one of the best perform as secretary classes in
three people to a vehicle coming into the city this morning. and then you have to try and get down here if you work in the financial district. this city is still struggling mightily to recover. >> and we're seeing the effects felt globally as airports struggle to reopen. it sounds like laguardia will reopen at least with limited service this morning. but generally speaking how hard is to get into the city at this point? >> it's interesting that they're getting laguardia back and...
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Apr 18, 2012
04/12
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you are seeing a live shot of times square at this early hour in new york city. we're preparing for trade on wall street. of course, dimly lit right now, but as the sun comes up, you're going to see a lot more activity there. carolyn. >> looking a little bit better than here in london. very chilly here. let's move on. spain has threatened argentina with what it calls, quote, consequences as they move to seize ypf. madrid says it will take action. spanish prime minister says the plant nationalization owned by repsol is justified and damaging for all parties concerned. yesterday we spoke to the peruvian finance minister, he was quick to distant his government from argentina's move. take a listen. >> i think investors have become more sophisticated in not lumping all latin-american countries together. in a clear example is trade policy, for instance. we've maintained open policy of rejecting any sorts of protectionist pressures, and there hasn't been any contagion effect. i think -- overall i think investors are able to discriminate among countries that are pursuing
you are seeing a live shot of times square at this early hour in new york city. we're preparing for trade on wall street. of course, dimly lit right now, but as the sun comes up, you're going to see a lot more activity there. carolyn. >> looking a little bit better than here in london. very chilly here. let's move on. spain has threatened argentina with what it calls, quote, consequences as they move to seize ypf. madrid says it will take action. spanish prime minister says the plant...
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Nov 8, 2012
11/12
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the storm brought the city to a virtual stand still last night. clean up crews have been working, though, to remove snow and clear the streets. we'll keep you posted on how that is doing as we look forward to the u.s. market opening today. coming up next, though, china's new leader will soon be revealed as the communist party's 18th national congress gets under way, but what does the transition mean for relations with europe? >>> hu jintao calls on china's next leaders to stamp out corruption and nir row the income gap as the communist party congress begins in be beijing. dow closed below the 13,000 level for the first time since august 3rd. shares in socgen are leading the trade higher as analysts say one time costs mask good third quarter results. the ceo tells this channel why the bank's underlying performance remains healthy. >> when you have a credit which is improving, your cds is going down, you have to recognize a negative revenues. >> and amid a backdrop of violent protest it is in greece, draghi warns economic uncertainty is thousand eve
the storm brought the city to a virtual stand still last night. clean up crews have been working, though, to remove snow and clear the streets. we'll keep you posted on how that is doing as we look forward to the u.s. market opening today. coming up next, though, china's new leader will soon be revealed as the communist party's 18th national congress gets under way, but what does the transition mean for relations with europe? >>> hu jintao calls on china's next leaders to stamp out...
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Aug 27, 2012
08/12
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a tale of two cities north and south, pretty strong. south because of the issues with economics and austerity measures, you're seeing some of that deflation of travel in that market. middle east, you have the arab spring going on last year. we're comping over that. more travel going in that direction. china more chinese customers are traveling internationally. visa restrictions have been reduced so they are traveling a lot more. you got japan who is coming off the tsunami from last year so they are more confident about traveling. lots of low cost carers. >> you mentioned china. i keep hearing also about the chinese traveller who is going to be coming in full at any point in time but still seems to me they are traveling very much to neighboring countries as opposed to europe or u.s. in these huge numbers that everybody is talking about. >> it's little bit of both. obviously it's easier for them to travel and enter apac. easier from a visa perspective. europe and north america catering to these customers because when they come they stay l
a tale of two cities north and south, pretty strong. south because of the issues with economics and austerity measures, you're seeing some of that deflation of travel in that market. middle east, you have the arab spring going on last year. we're comping over that. more travel going in that direction. china more chinese customers are traveling internationally. visa restrictions have been reduced so they are traveling a lot more. you got japan who is coming off the tsunami from last year so they...
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Jul 2, 2012
07/12
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let's get out to becky who has more on this live in the city of london. becky, good morning. heads are rolling. >> reporter: well, the next is what happened to bob dimon, clearly the out going chairman. trying to protect dimon, the ceo of his business by saying the buck stops with him and he is leaving. that won't necessarily take enough heat off of bob dimon. h's pretty much the public face. he's the man with the treasure's select with a time of remorse and apology is over. and, yet, he finds himself apologizing again. the next phase is what happens to bob dimon and what about the other banks, as well. some of the banks have been implemented as the probe continues. they've already fired several traders at the end of last year of over the same issue. and as this probe wardens out, we'll see more of the city institutions drawing to this story. there are several elements to this. one is the fact that there could be criminal proceedings, as well. examining the files that have already been prepared. they'll be looking for any evidence which could result in criminal proceedings. w
let's get out to becky who has more on this live in the city of london. becky, good morning. heads are rolling. >> reporter: well, the next is what happened to bob dimon, clearly the out going chairman. trying to protect dimon, the ceo of his business by saying the buck stops with him and he is leaving. that won't necessarily take enough heat off of bob dimon. h's pretty much the public face. he's the man with the treasure's select with a time of remorse and apology is over. and, yet, he...
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Nov 19, 2012
11/12
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citi price rewind. buy now. save later. . >>> welcome back. hostess has a lick wi sdags hearing set today in new york. the 82-year-old company announced friday it was closing after failing to get wage and benefit cuts from thousands of striking bakery workers. now, this move means that most of its 18,000 employees will lose their jobs. several third parties have expressed interest in buying assets, so twinkies may find a second lease in life. >>> someone else looking at snapping up assets a snoop dogg or snoop lion as i guess he's known now. he's setting his sights on scott land's celtics soccer team. the avid sports fan told the scott tesch daily record he first noticed the club after it defeated barcelona earlier this month. snoop doc doesn't envision himself running the team, but he would like to invest enough to have a seat on the board and have his voice heard to bring a bit of snoop to things. >>> the final movie in the twilight series sank its teeth into the competition topping the u.s. weekend box office with an estimated $141.3 millio
citi price rewind. buy now. save later. . >>> welcome back. hostess has a lick wi sdags hearing set today in new york. the 82-year-old company announced friday it was closing after failing to get wage and benefit cuts from thousands of striking bakery workers. now, this move means that most of its 18,000 employees will lose their jobs. several third parties have expressed interest in buying assets, so twinkies may find a second lease in life. >>> someone else looking at...
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Nov 2, 2012
11/12
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danielle lee is in one of the hardest hit areas of atlantic city. danielle, what is the cleanup operation like? >> i'm in front of the atlantic city board walk. it's dismantled and empty. fema is now opening disaster centers for people to begin getting federal aid. and all up and down the jersey shore, crews are trying to remove debris, trying to get the power back on. but in parts of new jersey, the entire gas system needs to be rebuilt. hundreds are still locked out and they're losing patience. they're frustrated this recovery cannot happen sooner. and there will are new complications caused by sandy, traffic jams, lock lines for gas, everyone gas rationing. and no rest for the weary. those still without power. a winter storm is head this had way and it could get here well before the power is back on next week. s are ross, back to you. >> take a quick look he at the ftse global 300. fractionally lower, but if you key in, you can see people are largely trying to keep positions on hold before we get the jobs report today. 0.2% down for the cac 40 an
danielle lee is in one of the hardest hit areas of atlantic city. danielle, what is the cleanup operation like? >> i'm in front of the atlantic city board walk. it's dismantled and empty. fema is now opening disaster centers for people to begin getting federal aid. and all up and down the jersey shore, crews are trying to remove debris, trying to get the power back on. but in parts of new jersey, the entire gas system needs to be rebuilt. hundreds are still locked out and they're losing...
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Aug 29, 2012
08/12
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where is this levee, how far away from the city is it? >> reporter: the levee is in plaquemine's parish. plaquemine's parish is southeast of here. it is not part of the new orleans $14.6 billion flood renovation/repair after hurricane katrina. the issue they're dealing with is this kind of rain and wind -- >> it is a hurricane. that's all i'm going to say. at least we got to hear that. you can see the amount of water and rain coming through. with a slow-moving storm, that's the issue they'll deal with, is the volume of rain coming down because of the slowness of the storm. we'll try to re-establish contact. i think you can forgive us he's in the middle of a hurricane with heavy rain. >>> european stocks at the moment are down 0.5% ahead of the u.s. open. u.s. futures are pointing to a mildly down start. a little negative. s&p has been indicated down about a point or so. and dow jones down 11 points. nasdaq currently down 1.5%. >>> what about agenda stateside today for business and economics? revised second quarter gdp is out at 8:30 easte
where is this levee, how far away from the city is it? >> reporter: the levee is in plaquemine's parish. plaquemine's parish is southeast of here. it is not part of the new orleans $14.6 billion flood renovation/repair after hurricane katrina. the issue they're dealing with is this kind of rain and wind -- >> it is a hurricane. that's all i'm going to say. at least we got to hear that. you can see the amount of water and rain coming through. with a slow-moving storm, that's the...
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Jul 11, 2012
07/12
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joining us is director of global macro strategy at citi. what are you expecting today from the central bank there? >> we're also expecting 50 to 8% but we believe all eyes will be on the policy statement to see whether it leaves room for further rate cuts. we think it will. and very much in line with what the local futures market is pricing in at the moment which is 7.25 by the end of this year so continued easing from brazil until november/december this year. >> just explain to us how this is feeding through into the real economy. these cuts are coming thick and fast, aren't they? for any viewers who watch rate cuts in the rest of the world and the commentary that comes out from various central banks is they have to wait to see how it feeds through and take a cautious, conservative view of what the impact is. doesn't seem to be the case with brazil. >> sure. i think there are two points here. the first is that monetary policy tends to feed through to brazilian re-electtivity with shorter lag than elsewhere because of the shorter maturity o
joining us is director of global macro strategy at citi. what are you expecting today from the central bank there? >> we're also expecting 50 to 8% but we believe all eyes will be on the policy statement to see whether it leaves room for further rate cuts. we think it will. and very much in line with what the local futures market is pricing in at the moment which is 7.25 by the end of this year so continued easing from brazil until november/december this year. >> just explain to us...
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Feb 10, 2012
02/12
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john woods, chief investment officer at citi private bank. let me update you on the breaking news we have here. we have some figures coming out from italy. italy's december output figures which are better than had had been expected. the bear in mind that further decline and month on month figure for italy's output was seen down. in fact, we have seen a decline of 1.7% on the year and better that expected the month on month figure up by 1.4% versus an expected decline of 0.5%. at 1.4% increase in december industrial output in italy versus an expected decline. we have seen the spreads tightening, too, in italy which has suggested we could be getting a bit of an improvement in terms of the market sentiments around italy and their situation. industrial output numbers in december seem to be backing that up on the ground up by 1.4% but it's just one month's figures. let's not get too excited. christine? >> good point to note. >>> china has released two sets of trade data today showing further signs of slowdown in the world's second largest economy.
john woods, chief investment officer at citi private bank. let me update you on the breaking news we have here. we have some figures coming out from italy. italy's december output figures which are better than had had been expected. the bear in mind that further decline and month on month figure for italy's output was seen down. in fact, we have seen a decline of 1.7% on the year and better that expected the month on month figure up by 1.4% versus an expected decline of 0.5%. at 1.4% increase...
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Dec 24, 2012
12/12
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of perfection. >>> good morning again, everyone. the fiscal cliff headline looms, but a solution seems to be far off. >> mario monti is saying that he's willing to lead italy, but only if a party backs his economic agenda for the country. >>> sylvia berlusconi tells cnbc he needs to return to the premiership to keep the lead from being turned over to the hands of the left. >> let's talk more about this. mario monti is saying he's willing to stand in italy's upcoming election but only if asked by a reform party that supports his agenda. monti made it clear that he was
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. you can stay in and share something... or you can get out there and actually share something. ♪ the lexus december to remember sales event is on. this is the pursuit of...
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Mar 13, 2012
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. >>> so joining us as our guest host is richard cooke, global chief investment officer at citi private bank. thanks for spending the hour with us. so spain is now in the spotlight as carolin was just describing. i know you are very underweight peripheral sovereigns. are you concerned about spain in particular? >> a marvelous bit of anchoring going on here. they came out with 5.8. the eu says, no, 5.3 but that's the original target. they slipped last year. they will this year. as the correspondent was pointing out 25% unemployment and, frankly, i think they're trying to tighten this much when you are already in a recession is madness. the quid pro quo event is unless they have this compact, unless it has teeth, then the ecb is not going to be out there buying the bonds. so clearly spain is a big risk. interest our point of view, moreover, what the greek solution effectively did was suborder nate bondholders. it makes it even less enthusiastic about the peripheral debt but paradox probably more. no longer comparing with the risk free rate. suborder nat subo subordinated rate. >> you are
. >>> so joining us as our guest host is richard cooke, global chief investment officer at citi private bank. thanks for spending the hour with us. so spain is now in the spotlight as carolin was just describing. i know you are very underweight peripheral sovereigns. are you concerned about spain in particular? >> a marvelous bit of anchoring going on here. they came out with 5.8. the eu says, no, 5.3 but that's the original target. they slipped last year. they will this year. as...
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Sep 18, 2012
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>> they're actually and i city m asymmetrical this year. >> thank you so much for coming by.nd i city asymmetrical this year. >> thank you so much for coming by.d i city asymmetrical this year. >> thank you so much for coming by. i city asymmetrical this year. >> thank you so much for coming by.i city asymmetrical this year. >> thank you so much for coming by. city asymmetrical this year. >> thank you so much for coming by.city asymmetrical this year. >> thank you so much for coming by.ity asymmetrical this year. >> thank you so much for coming by.ty asymmetrical this year. >> thank you so much for coming by.y asymmetrical this year. >> thank you so much for co >> we'll be back and bring the latest on the spate between china and japan, romney's controversial comments and you united has it numbers coming out today, as well. >>> welcome back. these are the headlines from rn at world. >> mitt romney tries to explain controversial comments secretly caught on tape at a recent fund-raiser, but the presidential candidate isn't backing to ining down. >> and japan and china urge a resolution a
>> they're actually and i city m asymmetrical this year. >> thank you so much for coming by.nd i city asymmetrical this year. >> thank you so much for coming by.d i city asymmetrical this year. >> thank you so much for coming by. i city asymmetrical this year. >> thank you so much for coming by.i city asymmetrical this year. >> thank you so much for coming by. city asymmetrical this year. >> thank you so much for coming by.city asymmetrical this year....
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Dec 3, 2012
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only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> these are your headlines. the white house and congress may need to call the auto club to jump-start budget talks. they're stalled on discussions over taxes. chinese factories have picked up the pace in november. both hsbc and the official pmi readings hit multimonth highs, both now in expanding territory. manufacturing activity continuing to shrink albeit at a lower pace. and singapore airlines is in talks to sell its stake in virgin atlantic. media reports suggest delta is the frontrunner. if you've just joined us, u.s. futures are a slightly upward start. not by much. s&p 500 currently about 1 1/2 points above fair value, nasdaq 8 1/2, dow about 17 1/2 above pair value. remember the dow down 2% over the last two months. the s&
only citi price rewind automatically searches for the lowest price. and if it finds one, you get refunded the difference. just use your citi card and register your purchase online. have a super sparkly day! ok. [ male announcer ] now all you need is a magic carriage. citi price rewind. start saving at citi.com/pricerewind. >>> these are your headlines. the white house and congress may need to call the auto club to jump-start budget talks. they're stalled on discussions over taxes....
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Mar 30, 2012
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john woods is still with us, chief investment office at citi private bank. john, all this talk about bailouts, i've been following the story for so long, it sort of bores me. i wonder if the investors are bored by the bailout fund, 740, 9 oorks 1 trillion, does it mary ann awful lot? ? >> we've been following this story now a couple of years and skepticism is growing. to be fair, it's a mix of size and quality. yes, size is important, but the reality is if the infrastructure and reforms are not effectively put in place, then it doesn't matter how big the firewall is. it's not going to have much effect. and that's really what investors particularly here in asia looking outside in-to europe are focused on, how viable, how determined and meaningful are reforms being put in place in greece. of course, though in, pain, to resolve the underlying issue. and until that is meaningfully addressed, i think risks of restructuring certainly in greece have to be on the table. and for as long as that overhang layses, that overhang is there, you know, we can't have any mean
john woods is still with us, chief investment office at citi private bank. john, all this talk about bailouts, i've been following the story for so long, it sort of bores me. i wonder if the investors are bored by the bailout fund, 740, 9 oorks 1 trillion, does it mary ann awful lot? ? >> we've been following this story now a couple of years and skepticism is growing. to be fair, it's a mix of size and quality. yes, size is important, but the reality is if the infrastructure and reforms...
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Jul 10, 2012
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very different sizes of cities. there doesn't appear to be anything for them to be congested for the same reason. >> congestion is construction, weather, accidents, can be any kinds of things. one thing we do see is that some cities have more alternative routes than others. what's also true is that people don't always know what their choices are. all this information is actually in our maps and navigation device so if drivers are using this they can actually route around it and use some of the alternatives. >> is this a failure of investment either private or public? >> i think it's a combination of traffic behavior, the local infrastructure, weather conditions, all kinds of factors. >> how does it stack up generally with north america. you've taken a look at traffic. >> what we see in europe is cities are more compact. we're focused, there may be actually fewer alternatives, activities less spread around, more concentrated. so that means that congestion levels tend to be more concentrated than in north america. >>
very different sizes of cities. there doesn't appear to be anything for them to be congested for the same reason. >> congestion is construction, weather, accidents, can be any kinds of things. one thing we do see is that some cities have more alternative routes than others. what's also true is that people don't always know what their choices are. all this information is actually in our maps and navigation device so if drivers are using this they can actually route around it and use some...
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Apr 30, 2012
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foot city 100 down half a percent. crack 40 down 0.8%, inflation did decline, but not as much as expected. ecb meeting this spain this week. which seems are appropriate. thousands of spaniards took to the streets on sunday to protest against the government's proposed budget cuts. peace pl demonstrations in cities across the country came ahead of gdp figures out this morning which confirmed the country's back in recession after contraction for the first three months of this year. the unemployment rate in spain is how at 23.6%. international labor organization criticized europe's austerity drive as ill conceived and holds it partly responsible for deepening the job crisis.group now predicts global unemployment will hit 202 million by the end of the reyear. its latest report says spending cuts have had devastating consequences. failing to produce any meaningful reductions in deficit. joining us from geneva is raymond torez. raymond, thanks for joining us. fairly stark forecast of unemployment. your rue here as we see in s
foot city 100 down half a percent. crack 40 down 0.8%, inflation did decline, but not as much as expected. ecb meeting this spain this week. which seems are appropriate. thousands of spaniards took to the streets on sunday to protest against the government's proposed budget cuts. peace pl demonstrations in cities across the country came ahead of gdp figures out this morning which confirmed the country's back in recession after contraction for the first three months of this year. the...
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Mar 21, 2012
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are assisting, and we can see the results of that, even in the early stages of hang high, the first cities to be managed under this new property tax. >> all right. thank you so much to simon baxter, real estate and invest tor-con sult tant at ec harris. meantime stay tuned to the show. the ceo of a real estate firm joins us in around 20 minutes' time, and get your questions in to us as well. e-mail us or tweet me @jack me @jackiedeangelis. they're due to testify today before the house oversight committee. the full story after the break. >>> welcome back to "worldwide exchang exchange". a day after lecturing college students, ben bernanke goes back to his regular job today. he testifies about the global financial system before the house oversight committee at 9:30 a.m. eastern time along with secretary treasurer tim guide her. he says he's comforted by easing stresses in europe, but the fed stands ready to act if things worsen again. bernanke says the banks are well hedged against a sovereign european default. becky. >> joining us now is our guest host for the next hour, director of market
are assisting, and we can see the results of that, even in the early stages of hang high, the first cities to be managed under this new property tax. >> all right. thank you so much to simon baxter, real estate and invest tor-con sult tant at ec harris. meantime stay tuned to the show. the ceo of a real estate firm joins us in around 20 minutes' time, and get your questions in to us as well. e-mail us or tweet me @jack me @jackiedeangelis. they're due to testify today before the house...
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Nov 27, 2012
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cities. providing further evidence of a long term rebound for the sector or sdw does it. our next guest is eric glean, chief of u.s. rates research and strategy at td securities. paul dale is also still with us. eric, good morning. first to you. tell us why you're concerned the housing recovery might not be for real. >> well, we have seen fits and starts in this recovery. i do think it is for really. we won't be seeing an upward move, but there are encouraging signs. we're seeing home prices improve across most regions of the company. inventories on a monthly basis are half of what they were two or three years ago. and when you think about do i want to buy a house or not, you want to see home prices at least stabilize. i think you're seeing the elements of a sustained recovery. not a great recovery, but what we need here is to avoid a negative outcome and i'm pretty confident at that point that we have achieved that. >> what are the biggest hurdles? >> household formation is extremely critical to housing demand. we've got an nice bounce off the lows. so what i need to see
cities. providing further evidence of a long term rebound for the sector or sdw does it. our next guest is eric glean, chief of u.s. rates research and strategy at td securities. paul dale is also still with us. eric, good morning. first to you. tell us why you're concerned the housing recovery might not be for real. >> well, we have seen fits and starts in this recovery. i do think it is for really. we won't be seeing an upward move, but there are encouraging signs. we're seeing home...
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Jun 22, 2012
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they beat oklahoma city thunder in game five of the finals, 121-106. second title in heat franchise but first for lebron who is named playoff mvp and expectations were very high going into this season and he managed to deliver. james had lost the nba finals twice before. he's in his ninth year in the league but just 27 years old. good lord. michael jordan didn't win the first of his six nba championships until he was 28. more titles ahead for lebron james. good news for nike. >> fantastic news for nike. i love michael jordan. >> i used to have a poster of him in my bedroom. . >> coming up wild find out why our guest host says bearish and short inflation swaps and not equities. details when we return. >>> >>> hi everyone. welcome back. the indian companies are under pressure from allegations of corruption and price fixing. we have the latest live from new delhi. >> reporter: that's right. the competition commissioner of india which is the regulator for competition found 11 companies guilty. 39 companies were being probed. the competition commission was
they beat oklahoma city thunder in game five of the finals, 121-106. second title in heat franchise but first for lebron who is named playoff mvp and expectations were very high going into this season and he managed to deliver. james had lost the nba finals twice before. he's in his ninth year in the league but just 27 years old. good lord. michael jordan didn't win the first of his six nba championships until he was 28. more titles ahead for lebron james. good news for nike. >> fantastic...
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Jun 12, 2012
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there are some real gems out there in the third and fourth tier cities. the challenge is they're not always accessible for the average investor. >> thank you very much for joining us, ben. >>> still to come, saudi arabia's oil minister says he will not ask opec to increase oil production at this year's meeting, at the same time the venezuela oil minister said he will ask for an increase in oil production. kelly will be joining us from vienna, so tune in. that's why she's not with me today on set. >>> still to come, the latest on the developments in spain. apple's new offerings as well as what is going on with the jpmorgan saga ahead of diamon's testimony before congress tomorrow. [ creaking ] [ male announcer ] trophies and awards lift you up. but they can also hold you back. unless you ask, what's next? [ zapping ] [ clang ] this is the next level of performance. the next level of innovation. the next rx. the all-new f sport. this is the pursuit of perfection. all in one account. keep watch on the markets. or use our exclusive tools to help find ideas. i
there are some real gems out there in the third and fourth tier cities. the challenge is they're not always accessible for the average investor. >> thank you very much for joining us, ben. >>> still to come, saudi arabia's oil minister says he will not ask opec to increase oil production at this year's meeting, at the same time the venezuela oil minister said he will ask for an increase in oil production. kelly will be joining us from vienna, so tune in. that's why she's not with...
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Apr 5, 2012
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and also some of its city city commercial banks are not owned directly by large con flom rats. so china has the mechanism to take this forward. the thing is on the other side of the equation, you need the big banks for capital investments. >> is there a notion in place that the big state owned banks are reluctant to lent to ss? >> the big banks even if they wanted to to it tee employ the mechanism to land to the small business owner is very difficult because this is a country with 20,000 branches. this is a country where the branchs in the large city centers, the branch alone is larger than the national bank in many other country. and there's a lack of capital markets. so obviously they have a problem being sensitive to the man on the street. and for a long time, informal financing had grown over a period of time. come to a point where it is a plil problem right now and small businesses are saying why is it the big banks keep lending not to us about sflp but is breaking up the monopoly going to be the answer to get will help to lend to the smaller sized enterprises? >> this is
and also some of its city city commercial banks are not owned directly by large con flom rats. so china has the mechanism to take this forward. the thing is on the other side of the equation, you need the big banks for capital investments. >> is there a notion in place that the big state owned banks are reluctant to lent to ss? >> the big banks even if they wanted to to it tee employ the mechanism to land to the small business owner is very difficult because this is a country with...
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Sep 21, 2012
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now, a bit of kers city as people updated to ios 6. all was not well with the map app. starting to see poor locations happening in the new ios 6 maps app. but that has apple's back end, not google's back end. even blogs popping up specifically mocking these locations that the maps are finding, particularly international locations. apple's maps not performing that well. so we'll see if that affects enthusiasm for the iphone 5 at all. a number of people also on twitter saying that they're not going to upgrade the rating system from ios 5 to ios 6. normally in the past we didn't see that quite as much. guys, back to you. >> later in the show we'll go to the apple store in new york city where fans have been lining up for days. that will be at 5:45 a.m. eastern time, ross. president obama meanwhile leading mitt romney in three more key swing states according to the latest nbc wall street journal maris poll. the president is edging romney in colorado and wisconsin by five points and iowa by eight. and the poll was taken this week amid the controversial romney secretly taped r
now, a bit of kers city as people updated to ios 6. all was not well with the map app. starting to see poor locations happening in the new ios 6 maps app. but that has apple's back end, not google's back end. even blogs popping up specifically mocking these locations that the maps are finding, particularly international locations. apple's maps not performing that well. so we'll see if that affects enthusiasm for the iphone 5 at all. a number of people also on twitter saying that they're not...
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Jun 25, 2012
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the challenge in india is that there is no political matching of the political system in the cities. >> there is some progress, the pace of this needs to be lifted very substantially because it's falling behind in areas such as power generation, simply not of a sufficient standard to meet the needs of industry, and it's way behind china at the moment in terms of achieving those objectives. >> reporter: as asia prepares for its urban billion, it isn't without challenges and the pinch will be most evident on the jobs front. >> in particular the need to deliver jobs growth will be very important, so governments will have to develop strategies to create in particular manufacturing jobs and also service sector jobs to cope with this rapidly growing population in the cities. >> reporter: governments can't create enough jobs or the infrastructure to feed the growing city population, there will be a big risk of social and political tension similar to what many middle eastern nations experience. joo japan's largest retail marketer with $100 million investment in pinterest and the takeover of
the challenge in india is that there is no political matching of the political system in the cities. >> there is some progress, the pace of this needs to be lifted very substantially because it's falling behind in areas such as power generation, simply not of a sufficient standard to meet the needs of industry, and it's way behind china at the moment in terms of achieving those objectives. >> reporter: as asia prepares for its urban billion, it isn't without challenges and the pinch...
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Feb 6, 2012
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i was at a bar in new york city. i don't know what could have been better. so much fun. not quite the repeat of 2008 but the hype was still there, unbelievable. really, really great game and the halftime performance, the commercials -- >> another very close game, though. >> yes. a really, really close game. a couple of really key plays. came down to the fourth quarter. i'm happy they pulled out the win. go new york, go giants. we're all happy. hopefully wall street will be happy and take cues from that momentum in the game. >> madonna, queen of pop, she performed. was there any wardrobe malfunction this time? >> no, thank goodness there was no wardrobe malfunction. she did a wonderful job. i know a lot of people were skeptical ahead that have performance saying -- some people said i don't think anyone should perform at the super bowl that is older than the super bowl itself but she did a wonderful job. every girl across america squealed when she sang "like a prayer" at the end. i thought it was amazing. >> why was she dressed like russell crowe in "gladiators"? >> i was
i was at a bar in new york city. i don't know what could have been better. so much fun. not quite the repeat of 2008 but the hype was still there, unbelievable. really, really great game and the halftime performance, the commercials -- >> another very close game, though. >> yes. a really, really close game. a couple of really key plays. came down to the fourth quarter. i'm happy they pulled out the win. go new york, go giants. we're all happy. hopefully wall street will be happy and...
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Dec 6, 2012
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citi shares were up on that. so what do you make of ubs getting out of fixed income, citi shedding a huge chuck of jobs. >> i would actually go much further than that. we've had an a revolution. pure to pure growing at 50% per annum. i think it's time to redesign the way they do banking. some of the peer to peer lenders are ten times more efficient than banks. so there is an argument that you can do retail banking with 90% less people. it's quite a radical view, but i think that there is a huge scope for process redesign in terms of retail banking. we shouldn't be pushing bits of paper. whenever i try to make an international payment, i have to talk to-to-someone who manually puts all the numbers in to i don't know where. but it's much too cumbersome relative to what you're seeing in terms of innovation. >> i've hated my bank for sort of 30 years and i'm still there. >> they rely us on. >> accomplicomplacent banks wilt behind. or these peer to peer lenders, the whole payment space is also wide open to internet in
citi shares were up on that. so what do you make of ubs getting out of fixed income, citi shedding a huge chuck of jobs. >> i would actually go much further than that. we've had an a revolution. pure to pure growing at 50% per annum. i think it's time to redesign the way they do banking. some of the peer to peer lenders are ten times more efficient than banks. so there is an argument that you can do retail banking with 90% less people. it's quite a radical view, but i think that there is...
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Jul 13, 2012
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but have cities like athens been forgotten too easily? we'll get the answers coming up next. >>> welcome back to the program. earlier we asked if you have any superstitions investing, superstitions, that is, around friday the 13th. one viewer tweets us, and i love this, i only invest with companies with ceos called paul. i'm up 14% year to date, unilever, diageo, nestle. we'll have to go back and verify whether the strategy will work. if you have superstitious investment strategies of your own, we want to hear about them. e-mail us or tweet us @cnbcbex. >>> now, the final countdown is on. and with just two weeks to go to the olympics, athletes and officials are expected to begin arriving in london for monday. however, fears are mounting that london's infrastructure isn't ready for such a major event. a key motorway remains closed, and one of the country's top mobile networks has suffered a 24-hour blackout. meanwhile, 3,500 security officers have been implemented. maybe it's not all bad news. the games could provide a much needed boost to
but have cities like athens been forgotten too easily? we'll get the answers coming up next. >>> welcome back to the program. earlier we asked if you have any superstitions investing, superstitions, that is, around friday the 13th. one viewer tweets us, and i love this, i only invest with companies with ceos called paul. i'm up 14% year to date, unilever, diageo, nestle. we'll have to go back and verify whether the strategy will work. if you have superstitious investment strategies of...
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Jul 26, 2012
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citi chief economist has previously forecast a chance of between 50 and 75%. julia chatterley is in athens. do the greek agree? >> reporter: well, i prefer not to consider the probability is 90%. 0e% of this population want to remain in the euro. that's what the greek politicians are trying to show and never more important than today than the president of the european commission is set to meet the prime minister at 5:30 athens time this evening. the markets will closely watch that as an indication on just how the future negotiations between the two parties, the eurozone leaders and the greek will continue given what we've heard about the future financing needs and of course the debt sustainability analysis. what we're expecting to hear between the troika and finance minister today too is talk about potentially further details on recapitalization, also 11.5 billion euros they have to cut over the next two years and the reforms and getting the current greek bailout program back on track. we've heard of a number of thing over the last few days. we heard about the
citi chief economist has previously forecast a chance of between 50 and 75%. julia chatterley is in athens. do the greek agree? >> reporter: well, i prefer not to consider the probability is 90%. 0e% of this population want to remain in the euro. that's what the greek politicians are trying to show and never more important than today than the president of the european commission is set to meet the prime minister at 5:30 athens time this evening. the markets will closely watch that as an...
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Aug 10, 2012
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china may expand property tax files to more cities. but banks out-performed after china industrial bank registered about 40% increases in first-half net profit. but interest in nonperforming lows remain a concern. hong kong finished lower by 0.7%. others fell due to weak performance in its u.s. unit. more on that from emily chen later. the nikkei lost about 1% but still had its best week since february. and china is reportedly working on investing in a struggling tv-maker. the kospi will buck the downward trend, adding 0.3%. china consumer prices fell for the first time in three years. analysts say it may prompt the bok to take action. in china, they listed the gdp forecast, but it was overshadowed by concerns from china. the index was lower about 0.7%. lastly, india is now trading lower by 0.1%. back to you, kelly. >> all right, sixuan, thanks. >>> martin wheatley is leading a review that will formally launch a look into the intrabank rate. this is on the heels of the libor rate-setting scandal which claimed the top management at barc
china may expand property tax files to more cities. but banks out-performed after china industrial bank registered about 40% increases in first-half net profit. but interest in nonperforming lows remain a concern. hong kong finished lower by 0.7%. others fell due to weak performance in its u.s. unit. more on that from emily chen later. the nikkei lost about 1% but still had its best week since february. and china is reportedly working on investing in a struggling tv-maker. the kospi will buck...
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Jul 3, 2012
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the port cities across the world, they own a secure, safe long-term outset. the contracts they right in lmg with customers are inflation hedged and long-term in nature. it's righty think this stock is beginning to trade like a port stock or infrastructure play. they bring on new facilities. it does seem to be very high demand globally for storing more of this essential -- >> especially places where you can't build out. some of the ports are stuck. >> lastly, you like also a german specialty producer of plastic and glass packaging. >> yes. this is pretty small stock. it's just over a billion euros. on the face of it, it looks like -- it makes glass and plastic packaging. >> geir shiemer. >> yeah. what they are plugged into is high credit barriers in plastic delivery mechanisms, insulin pens, inhalers for -- those are sectors. but those problems in population and diabetes or asthma are growing fast issues. they're plugged into that growth. >> with a company like this, how -- why wouldn't one of the larger companies manufacture their own plastic and glass packag
the port cities across the world, they own a secure, safe long-term outset. the contracts they right in lmg with customers are inflation hedged and long-term in nature. it's righty think this stock is beginning to trade like a port stock or infrastructure play. they bring on new facilities. it does seem to be very high demand globally for storing more of this essential -- >> especially places where you can't build out. some of the ports are stuck. >> lastly, you like also a german...
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Mar 14, 2012
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citi, for example? >> citi, they didn't miss by much. i think they quickly said they'll go back and adjust and i expect them to be right in line here soon. >> interesting. and your take on citi, i'm just curious? >> i think overall the important thing to keep in mind is the result came out. the reason they we have this is the global situation is much calmer. when we had the tension around, i don't think we're getting same reakds. i think we have a much more calm environment. this means the views has an impact on the market. that wouldn't have been the case three months ago. >> guys, if i could quickly jump in here. ryan, do you think -- do we know the specific criteria as to how they stress-tested the banks? some people have been suggesting that maybe npls, some of it, is not being classified as npls. let's face iter. we still have these issues and markets are depressed even though the markets are performing well. >> it -- there's a lot of information to dissect and go through that. i spent the better part of the evening last night tryin
citi, for example? >> citi, they didn't miss by much. i think they quickly said they'll go back and adjust and i expect them to be right in line here soon. >> interesting. and your take on citi, i'm just curious? >> i think overall the important thing to keep in mind is the result came out. the reason they we have this is the global situation is much calmer. when we had the tension around, i don't think we're getting same reakds. i think we have a much more calm environment....
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Sep 17, 2012
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rallies are also scheduled in more than 30 cities worldwide. so will the momentum be anything this year like it was last year? kay kayla tausche joins tru s us fr zuccotti park. it's dark and looks quiet. what's it like there? >> well, we're expecting that it will kick off in just about an hour or so. that storm on the stock exchange expected to begin around 7:00. but zuccotti park is relatively sleepy. hard to believe that this is the place where just a year ago a small cluster of protesters against wall street and the financial crisis and against the government's bailout of all the companies here. but since that began, launching worldwide protests in 82 countries, nearly 1,000 cities. and some of them raged on. hong kong occupiers evacuated just last month even as the movement as a whole starts to lose some steam. but not taoday. today is the third days in three days of a rally that they're calling a carnival. it began on saturday with the march from washington square park here in new york city all the way down broadway to zuccotti park where
rallies are also scheduled in more than 30 cities worldwide. so will the momentum be anything this year like it was last year? kay kayla tausche joins tru s us fr zuccotti park. it's dark and looks quiet. what's it like there? >> well, we're expecting that it will kick off in just about an hour or so. that storm on the stock exchange expected to begin around 7:00. but zuccotti park is relatively sleepy. hard to believe that this is the place where just a year ago a small cluster of...
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Nov 29, 2012
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plus the foot city 100 up 0.8% this morning. so pretty much a strong session across the board. again, following what we saw in the u.s. yesterday. take a look at the bond wall here of course we have an italian auction coming up later and italy's ten year, below 4.5% this morning. so price rising. that yield falling. spain also benefiting. that yield down to 5.2%. bunds creeping back up to 1.4% level. let's key in on currency. the aussie dollar despite the broader risk-on attitude a weaker. dollar-yen moving higher 82.13. and the nikkei is adding to its string of gains throughout the month. euro-dollar rebounding off yesterday's trading session to add 0.1%. let's check in on how the asia trading session went overnight and for more, deidre wong morris joins us from singapore. >> well, it was a very good session over here, as well. headline driven. but a good session on the back of that optimism for fiscal cliff talk. all except this glaring spot of red. shanghai composite finishing lower for yet another session. it keeps falling further and further. doesn't seem that there is any
plus the foot city 100 up 0.8% this morning. so pretty much a strong session across the board. again, following what we saw in the u.s. yesterday. take a look at the bond wall here of course we have an italian auction coming up later and italy's ten year, below 4.5% this morning. so price rising. that yield falling. spain also benefiting. that yield down to 5.2%. bunds creeping back up to 1.4% level. let's key in on currency. the aussie dollar despite the broader risk-on attitude a weaker....
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Oct 19, 2012
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it was my first day on a new job in the city. and not a lot happened i can tell you apart from people just looked at each other in amazement. they didn't answer the phones either. yeah, an interesting day all around. and what a great buying opportunity. we learned it was probably the buying opportunity of the century. >> ross, that's for sure. stick around, because still to come on the show, as eu banking policy inches closer to getting the green light, we'll hear from the finland bank governor. >>> google continues to move lower in european trade after losing $22 billion in market cap on wall street. >> and microsoft's profits drop falling short of forecasts as the company gets set to launch its new windows 8 software. >> europe's troubled banks could receive funds as soon as the beginning of next year. germany still appears to be eyeing a longer time frame, however. eu leaders have been hammering out the details of a banking union at a summit in brussels. and speaking this morning, ecb policy maker know vat any says it must hap
it was my first day on a new job in the city. and not a lot happened i can tell you apart from people just looked at each other in amazement. they didn't answer the phones either. yeah, an interesting day all around. and what a great buying opportunity. we learned it was probably the buying opportunity of the century. >> ross, that's for sure. stick around, because still to come on the show, as eu banking policy inches closer to getting the green light, we'll hear from the finland bank...
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Aug 24, 2012
08/12
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deadline day for occupy hk protesters in the city. and there's a wealth of political shuttling going on in europe. we just had another meeting to the board. mario monti will meet france's francois hollande in rome on september 4th. so add that to the schedule as well. of course, as asset markets don't debate whether spain will request a full bailout, the head of the rescue says the crisis is not spiraling out of control. they've insisted there's life in the regions peripheral countries. >> all the countries have delivered sizable adjustment and deficits are on an improving trend in all program countries. currently the deficits and competitiveness of the eurozone's peripheral economies have been improving significantly during the last three years. >> does that stack up if we've got no growth? the pmi pointing, suggesting next quarter will be negative growth around my us the 4.5%. can you improve debt profiles if you don't have any growth. >> that's the main issue. while it's true countries are doing some degree of adjustment on the fis
deadline day for occupy hk protesters in the city. and there's a wealth of political shuttling going on in europe. we just had another meeting to the board. mario monti will meet france's francois hollande in rome on september 4th. so add that to the schedule as well. of course, as asset markets don't debate whether spain will request a full bailout, the head of the rescue says the crisis is not spiraling out of control. they've insisted there's life in the regions peripheral countries....
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Sep 20, 2012
09/12
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more calm and efficient and more sustainable infrastructure programs in many cities around the world. so this becomes a key customer set for us in the crystal is whether this knowledge is really happening. the engagement agenda with planners, with mayors. and this will be connected to the world. so this will be us talking much earlier. >> but this is quite an expensive project, as well. it's not a project that you anticipate will be copied elsewhere. >> this is something which is unique and it's set up because it also hosts the 30 best technologies which siemens has available. they will will be having the tile log with the customers and we will have it linked up through networks and through other parts of the world. so this will be also the place where best practice sharing is happening so different cities can learn what works better in singapore or new york. >> there are signals we're seeing a slowdown in the manufacturing and industrial segment of germany. do you anticipate this? >> without any doubt of course germany sim pacted, but germany is still growing at a slower pace. but t
more calm and efficient and more sustainable infrastructure programs in many cities around the world. so this becomes a key customer set for us in the crystal is whether this knowledge is really happening. the engagement agenda with planners, with mayors. and this will be connected to the world. so this will be us talking much earlier. >> but this is quite an expensive project, as well. it's not a project that you anticipate will be copied elsewhere. >> this is something which is...
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Apr 19, 2012
04/12
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citi, you may remember meredith whitney was pretty down beat about citi. said that she was very unlikely to change her view on this company. the earnings came caused her to reverse her call upping citi after its result. pandit, as well, warning about macro uncertainty. this keeps cropping up even when companies are beating. goldman sachs, as well, $3.92. boosted by investment banking. so three strong sets of banking earnings so far. but just to reiterate the numbers that we're looking out for as we get further into the week, morgan is anly, bank of america, also the blackstone group coming out with its figures, as well. >> ellen, let's talk about some bank numbers. your thoughts on the banking sector. >> i think earnings season has come in better than expected overall. and sometimes i wonder is it because expectations were lowered enough and that's why we're surprising. but first quarter was good. it was strong. we had a rise in equities. global financial conditions did ease and that is always very supportive especially in banking financials. and then you
citi, you may remember meredith whitney was pretty down beat about citi. said that she was very unlikely to change her view on this company. the earnings came caused her to reverse her call upping citi after its result. pandit, as well, warning about macro uncertainty. this keeps cropping up even when companies are beating. goldman sachs, as well, $3.92. boosted by investment banking. so three strong sets of banking earnings so far. but just to reiterate the numbers that we're looking out for...
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Apr 11, 2012
04/12
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i can tell you that in the citi cities, it was felt and people are out in the streets. that's as much as we know so far. >> okay. well, thank you so much for. frank daniels, correspondent of reuters. he's obviously talking to us from new delhi and has to rely on ground reports from his sources and his contacts as well. once again, sri lanka asking coastal residents to evacuate following the indonesian earthquake. remember, sri lanka was also one of the heavily devastated countries in the 2004 earthquake as well, and more tsunami warnings and quake tremors being reported all around the region. we've heard even from as far as way as myanmar to singapore, thailand, southern india, along with them. indonesian officials have slightly lowered their magnitude estimate from 8.7 to tin irritable sentiment of 8.9. ross, as we report this, thing is something we really need to look out for. and possibly, given the size of this earthquake, maybe in an hour or so, we could hear some news coming out, even as far as way as hawaii. that was certainly the pattern that it took on when tha
i can tell you that in the citi cities, it was felt and people are out in the streets. that's as much as we know so far. >> okay. well, thank you so much for. frank daniels, correspondent of reuters. he's obviously talking to us from new delhi and has to rely on ground reports from his sources and his contacts as well. once again, sri lanka asking coastal residents to evacuate following the indonesian earthquake. remember, sri lanka was also one of the heavily devastated countries in the...
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May 24, 2012
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and citi group's economists expect greece to leave the euro. they're very precise about this, the first of january next year, 2013. it sees the new greek economy dropping by 60%. this comes after heads of state meetings in brussels urged greece to stay, but reports suggest it they are putting in place contingency plans for possible exit. silvia joins us from brussels. here's the question. are they playing a game of bluff or not? when they say we want greece to stay, but if you don't sign up to the it terms, we're ready to let you go. do it they mean that or is that bluffing? >> i don't think they have a choice ultimately. i think they're always willing, we heard that from angela merkel, from hollande, from rajoy, they're always willing to give greeks more lenient terms. maybe no stretch the time horizon, maybe to give them more money. but the bottom line is they say you have to agree to stick by let's say the spirit of the treaty if nothing else. but what can they do? if they have a greek government after the 17th of june that says you can basi
and citi group's economists expect greece to leave the euro. they're very precise about this, the first of january next year, 2013. it sees the new greek economy dropping by 60%. this comes after heads of state meetings in brussels urged greece to stay, but reports suggest it they are putting in place contingency plans for possible exit. silvia joins us from brussels. here's the question. are they playing a game of bluff or not? when they say we want greece to stay, but if you don't sign up to...
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Mar 19, 2012
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be mitigated because although the government is trying to control speculative investment in the big cities and will keep tight lending curbs there, what they do want to do is encourage affordable housing and that's a program of 36 million low income housing over the five years starting last year. a lot of money that will go into that sector and it was a key budget priority in the latest budget to encourage affordable housing through lending by the state banks, as well. >> 7.5% is achievable this year. counseli do you think china could surprise us to the up side? >> our expectations are just over 8%, but not a huge difference in our view. i think the government may be a bit cautious in their view, but we do see quite a lot of know men tim still in the chinese economy. and exports are holding up pretty well to other parts of the world because the u.s. economy is doing well, japan is rebounding about. >> do you agree with christine lagarde that the youan is undervalued? >> i think we're seeing a reduction at a significant pace. and our expectations are that the chinese trade surplus will decl
be mitigated because although the government is trying to control speculative investment in the big cities and will keep tight lending curbs there, what they do want to do is encourage affordable housing and that's a program of 36 million low income housing over the five years starting last year. a lot of money that will go into that sector and it was a key budget priority in the latest budget to encourage affordable housing through lending by the state banks, as well. >> 7.5% is...